Deloitte mortgage rates

Donna Chase12 said:I can't be bothered to dig that up right now... I'll look into it later today and let you know.

That interest rate depends on how many years the loan runs for—plus whether you add family members to the agreement or if you put down a decent down payment...

I know, I've actually asked around about all of this already—but honestly, it doesn't seem like anyone on here has even touched a cent at Deutsche Bank! 😢

I’m planning to set up contracts for five family members—that’s really the limit for me—but even then, the monthly payments are going to end up being higher than if I had just gone with the same term at Hypo. I’ve tried to factor in everything possible... well, almost everything! I haven't accounted for a security deposit, since, you know, that's just not in the budget right now. ☕

Look, I pulled the trigger... and honestly? I’m beyond happy with how it turned out. And mind you, I only did it based on my own contract...

You really need to dig a little deeper into everything I told you... I’m telling you, Hypo isn't even in the same league when it comes to mortgage rates. I spent months hitting up different banks and even stopped by Deutsche Bank just to grill them. I actually badgered one guy there at least five times—staying an hour each time—until he finally laid it all out and answered every single annoying question I had...
I even managed to prove to him that handing over a deposit was a total waste of money (he eventually admitted I was right, bless his heart), but with those five contracts you're sitting on, you could definitely score big there...

Donna Chase12 said:i honestly, Donna Chase12... would you really jump on a mortgage just to save maybe $10 bucks? (and who even knows if that's still worth anything a year from now)😲
besides, does the deal actually make sense? what’s the interest rate looking like—is there some hidden interest period involved? did they factor in all the fees for the life of the loan, or the cost of an appraisal, or any other random junk charges? and can you even pay it off early without getting slapped with a penalty?
when I went digging for answers myself, they basically gave me the brush-off on everything

I think I can probably sort out the interim period just by chatting with my personal banker—it seems doable! My monthly costs are already baked right into my loan payments, and since my place isn't exactly a brand-new build, I’m paying for appraisals here and there too. Other than that, my crew actually works over at Hypo! 😍

By the way—it's kind of funny—Deutsche Bank keeps pushing this whole "zero processing fees" thing for their loans, but if you look closely, they actually have some of the highest costs out there! I guess it's all just part of the marketing, right? Maybe they just hope we won't notice the fine print—who knows! 2,5% And they call that a follow-up for finalizing the inter-financing agreement—which, by the way, would put my rate at 1.4% over at Hypo!

Donna Chase12 said:Look, I pulled the trigger... and honestly? I’m beyond happy with how it turned out. And mind you, I only did it based on my own contract...

You really need to dig a little deeper into everything I told you... I’m telling you, Hypo isn't even in the same league when it comes to mortgage rates. I spent months hitting up different banks and even stopped by Deutsche Bank just to grill them. I actually badgered one guy there at least five times—staying an hour each time—until he finally laid it all out and answered every single annoying question I had...
I even managed to prove to him that handing over a deposit was a total waste of money (he eventually admitted I was right, bless his heart), but with those five contracts you're sitting on, you could definitely score big there...

Oh, I totally get it! I was pretty thrilled with the terms too, but the guy just wouldn't give me a straight answer—it was all so vague. He wouldn't even touch on that 1.5% interest rate thing. When I asked if the rate was lower than what a big bank would offer, even if the monthly payment ended up being higher, he just brushed me off saying he didn't want to comment on the competition.👎

It’s almost like I was asking him something silly or something? Like, does he think I haven't finished middle school or something? I can definitely spot an extra interest charge when I see one! I guess the only thing bothering me is how secretive they all act. Back at Hypo, I chatted with three different personal bankers and, honestly, I couldn't tell you which one I liked more—they were all pretty much the same. And all(you know, the whole deal, haha) they even gave me some helpful tips on what to watch out for.

Anyway, I’m planning to head back to Deutsche Bank this Monday, but I’ll try to talk to the most experienced lady there—I noticed one older woman working there who seemed like she really knew her stuff.

So, you actually thinking about taking out that 24-year loan?

Look, at the end of the day, it’s your call...
But I've already made my move... and honestly, if I had to do it all over again, I'd make the exact same choice.
Just because you've got "connections" who can shave a bit off the interest rate or fast-track the paperwork doesn't mean they're going to be standing there holding your hand when those variable rates start climbing...

For me, having that fixed rate was the whole game...
+ Plus everything else I mentioned earlier... I'm dead certain I picked the best option on the table back then—and honestly, I don't think anything better has come along since. If anything, things have just gotten worse now that rates are spiking.

Michelle Foster13 said:Oh, I totally get it! I was pretty thrilled with the terms too, but the guy just wouldn't give me a straight answer—it was all so vague. He wouldn't even touch on that 1.5% interest rate thing. When I asked if the rate was lower than what a big bank would offer, even if the monthly payment ended up being higher, he just brushed me off saying he didn't want to comment on the competition.👎

It’s almost like I was asking him something silly or something? Like, does he think I haven't finished middle school or something? I can definitely spot an extra interest charge when I see one! I guess the only thing bothering me is how secretive they all act. Back at Hypo, I chatted with three different personal bankers and, honestly, I couldn't tell you which one I liked more—they were all pretty much the same. And all(you know, the whole deal, haha) they even gave me some helpful tips on what to watch out for.

Anyway, I’m planning to head back to Deutsche Bank this Monday, but I’ll try to talk to the most experienced lady there—I noticed one older woman working there who seemed like she really knew her stuff.

Want me to DM you a guy who actually knows his stuff?

See, that 1.5% is just the interest on your savings that hits your account at Deutsche Bank once the term is up...
It’s not some shady scam... just a weirdly over-complicated setup... this guy can walk you through the whole thing clearly.

Honestly, if they were being all sweet to you at Hypo, it’s only because you happen to know someone there... otherwise, they aren't exactly known for being warm and fuzzy.

Have you tried asking them if you can just drop larger payments whenever you want? Like, what actually happens to the cash if you pay extra?
And what's the deal with the early payoff terms?
If you haven't asked yet, just go for it—I really didn't love what I heard from my end.

Donna Chase12 said:So, you actually thinking about taking out that 24-year loan?

Look, at the end of the day, it’s your call...
But I've already made my move... and honestly, if I had to do it all over again, I'd make the exact same choice.
Just because you've got "connections" who can shave a bit off the interest rate or fast-track the paperwork doesn't mean they're going to be standing there holding your hand when those variable rates start climbing...

For me, having that fixed rate was the whole game...
+ Plus everything else I mentioned earlier... I'm dead certain I picked the best option on the table back then—and honestly, I don't think anything better has come along since. If anything, things have just gotten worse now that rates are spiking.

Not quite 24 years—more like maybe 18 or 19... 🙂

To make a long story short, I'm just kind of over it. I actually REALLY love that bridge loan option, and I think I’ve pretty much made up my mind already! It's just that there are still a few little details I'm trying to wrap my head around—things they've sort of buried in the fine print that make everything seem a bit more suspicious than it probably even is. 😁

Thanks, Donna, and have a good night!

P.S. If you have more to share tomorrow, I'll definitely be following along!😬

Donna Chase12 said:Honestly, if they were being all sweet to you at Hypo, it’s only because you happen to know someone there... otherwise, they aren't exactly known for being warm and fuzzy.

Have you tried asking them if you can just drop larger payments whenever you want? Like, what actually happens to the cash if you pay extra?
And what's the deal with the early payoff terms?
If you haven't asked yet, just go for it—I really didn't love what I heard from my end.

Unfortunately, it seems like it’s the same story with every single bank out there—it’s just how things work. That’s why I think Stambetal really rules; there's honestly no doubt about that! 👍

hmm... if you can swing it, try to grab that K100 plan over a 17-year term. (I mean, you could stretch it out to 17 years and maybe some months—basically as long as you actually need)—it’s just way easier on the wallet...
just have them run the numbers for you first, then sit with it for a bit...
honestly, I’d suggest waiting until Monday to really sit down, compare everything, and wrap your head around it before you actually go in to sign anything...
don't rush into a call like this.

night

Donna Chase12 said:Want me to DM you a guy who actually knows his stuff?

See, that 1.5% is just the interest on your savings that hits your account at Deutsche Bank once the term is up...
It’s not some shady scam... just a weirdly over-complicated setup... this guy can walk you through the whole thing clearly.

No need to recommend him—I'm not from New York City, so I should be fine just talking to the folks working at our local branch here🙂

Wait, what exactly do you mean by MY savings? I haven't even opened an account with them yet!

Anyway, it doesn't really matter—I'll head down there and they'll walk me through it. If they seem a bit lost, maybe you can just give me his number? Then I can pass it along to them so they can reach out, get the details, and then finally make sense of it all for me. 😬

Donna Chase12 said:hmm... if you can swing it, try to grab that K100 plan over a 17-year term. (I mean, you could stretch it out to 17 years and maybe some months—basically as long as you actually need)—it’s just way easier on the wallet...
just have them run the numbers for you first, then sit with it for a bit...
honestly, I’d suggest waiting until Monday to really sit down, compare everything, and wrap your head around it before you actually go in to sign anything...
don't rush into a call like this.

night

And yeah, that K100 plan is meant for loans over $40,000, but they keep trying to push the K60 on me.
Well, I guess I'm a bit wiser now after all that—I'll just reset things on Monday and handle it then😂

Thanks again and goodnight!😉

By the way, Deutsche Bank claims they don't charge any processing fees, but they actually have the highest 2.5% fee—they just call it a "contract arrangement fee for interim financing" (at Hypo, it would only be 1.4%).

So, if you're smart and deposit a little extra cash into all five of those accounts, they'll magically drop that processing fee to 1.5%.

Michelle Foster13 said:And yeah, that K100 plan is meant for loans over $40,000, but they keep trying to push the K60 on me.
Well, I guess I'm a bit wiser now after all that—I'll just reset things on Monday and handle it then😂

Thanks again and goodnight!😉

look, he’s probably sticking to the K60 just because of the term length—you can only go up to 17 years with a K100... so if you mentioned wanting 18 or 19 years, that's why he's pivoting.
try telling him tomorrow to just set it at 17 instead—but then your monthly payment jumps, so you'll have to check if you even qualify for that... I don't know how much you're actually pulling in.

redmaker382 said:By the way, Deutsche Bank claims they don't charge any processing fees, but they actually have the highest 2.5% fee—they just call it a "contract arrangement fee for interim financing" (at Hypo, it would only be 1.4%).

So, if you're smart and deposit a little extra cash into all five of those accounts, they'll magically drop that processing fee to 1.5%.

So, if you're smart and deposit a little extra cash into all five of those accounts, they'll magically drop that processing fee to 1.5%.

So, if you're smart and deposit a little extra cash into all five of those accounts, they'll magically drop that processing fee to 1.5%.
you really need to run the numbers on this one
look, Michelle Foster13... just ask him to run some scenarios for you—maybe over a 17-year stretch split among five people where everyone chips in something like $50. That way you can actually see if it's even worth the hassle.
Personally, I ran the math and figured I’m better off just not putting anything in at all...
And seriously, don't be that person who bugs him to print out a million different spreadsheets with every possible combo of deposits and years. It's not worth the headache.

So, based on all my math—which I actually had five different people run for me—it looks like my best bet is definitely splitting the contract among five different people. I honestly can't quite wrap my head around why it wouldn't be profitable for you 😕

I'll make sure to bring up your example when I talk to him tomorrow 🙂

I don't really know the drill over at Deutsche Bank, but I'm guessing it's pretty much the same deal as at the NYSE.
It feels like you might not totally get how these housing savings accounts actually work:
The whole idea is you save with them for a set number of years—at least two, depending on the plan—and in return, you get some tiny interest (maybe 2-3%) plus those government incentives (right now it's 15% of what you save annually, but capped at $250) per year. So, it makes sense to save about $1667 a year, which is why people usually split family savings into a few different accounts instead of just one big pile, basically just to max out those incentives $250 times. In the end, though, families usually just take out one big loan based on all those combined accounts anyway.

They offer this "bridge financing" thing where you can grab a loan before your savings period is even up. Then, once the term is finished, you just swap that bridge loan for the actual mortgage from the savings institution.
Honestly, I think that made sense back when commercial mortgages were way more expensive and harder to get, especially for people who started saving but suddenly needed the cash sooner than planned. But with how things are now? If you haven't already got money sitting in a savings account, I don't see the point at all.
I mean, obviously, you'd need to run the actual numbers to be sure.

Michelle Foster13 said:So, based on all my math—which I actually had five different people run for me—it looks like my best bet is definitely splitting the contract among five different people. I honestly can't quite wrap my head around why it wouldn't be profitable for you 😕

I'll make sure to bring up your example when I talk to him tomorrow 🙂

Nah... you totally misread me.
I just didn't have anyone else to bundle the contracts with, so I was stuck working with just my own... obviously, it would've been more profitable if I had more contracts to play with.
What I meant was—according to my math—putting any kind of deposit down on the contract just wasn't worth it.

Michelle Foster13 said:No need to recommend him—I'm not from New York City, so I should be fine just talking to the folks working at our local branch here🙂

Wait, what exactly do you mean by MY savings? I haven't even opened an account with them yet!

Anyway, it doesn't really matter—I'll head down there and they'll walk me through it. If they seem a bit lost, maybe you can just give me his number? Then I can pass it along to them so they can reach out, get the details, and then finally make sense of it all for me. 😬

Yeah, right... you haven't saved money... but those contracts they open up for you? They act just like savings accounts—the bank puts money in, and then after five years, they pay out part of a loan by dipping into those funds (which isn't even your money, it's theirs). It's basically just a way for the Democratic Party to sit on all that cash and interest.
The more contracts you have, the better it is for them, because that means more money for the Democratic Party to scoop up when those payouts happen...
I don't know if that makes sense to you...
Ask someone tomorrow to "sketch it out" for you... but look, if they work at a branch outside of NYC and they're new to this stuff... plus, there's a chance they might not be fully trained (I'm saying *maybe*—not saying they definitely are)—they might struggle to explain it clearly.
When I had this explained to me, it was some guy at the corporate headquarters in NYC who had been there forever and was basically a manager... so, yeah...

George Phillips said:I don't really know the drill over at Deutsche Bank, but I'm guessing it's pretty much the same deal as at the NYSE.
It feels like you might not totally get how these housing savings accounts actually work:
The whole idea is you save with them for a set number of years—at least two, depending on the plan—and in return, you get some tiny interest (maybe 2-3%) plus those government incentives (right now it's 15% of what you save annually, but capped at $250) per year. So, it makes sense to save about $1667 a year, which is why people usually split family savings into a few different accounts instead of just one big pile, basically just to max out those incentives $250 times. In the end, though, families usually just take out one big loan based on all those combined accounts anyway.

They offer this "bridge financing" thing where you can grab a loan before your savings period is even up. Then, once the term is finished, you just swap that bridge loan for the actual mortgage from the savings institution.
Honestly, I think that made sense back when commercial mortgages were way more expensive and harder to get, especially for people who started saving but suddenly needed the cash sooner than planned. But with how things are now? If you haven't already got money sitting in a savings account, I don't see the point at all.
I mean, obviously, you'd need to run the actual numbers to be sure.

I'm not sure if that first sentence was aimed at me or crax, but honestly? You clearly don't know the first thing about bridge loans...
it's a loan you can snag right away without having saved a dime...and you don't have to be some hardcore saver before you even apply...
And it makes tons of sense for anyone who isn't a saver, because there are a bunch of perks (which I've already mentioned, so I won't bore you again) compared to big banks like Chase or Wells Fargo (personally, the biggest win for me is a decent FIXED interest rate—I don't need the monthly headache of wondering if variable rates are gonna spike and ruin my life), though they do have strict approval rules (mortgages, co-signers... depends on how much you're pulling... but there are a few ways to make it work)

When I took out my loan, I crunched the numbers and compared costs across several different banks, and this was hands-down the most cost-effective option...

Whether that holds true in the long run? Honestly, who knows—but nobody knows that any better, especially someone taking out a 20 or 30-year loan with a variable rate.